Register Financial Advisors LLC Has $1.38 Million Stake in Applied Digital Co. (NASDAQ:APLD)

Register Financial Advisors LLC boosted its position in Applied Digital Co. (NASDAQ:APLD) by 74.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 323,400 shares of the company’s stock after purchasing an additional 137,500 shares during the period. Register Financial Advisors LLC’s holdings in Applied Digital were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in APLD. Nomura Holdings Inc. purchased a new stake in shares of Applied Digital during the fourth quarter valued at approximately $183,000. B. Riley Wealth Advisors Inc. boosted its position in shares of Applied Digital by 9.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 512,582 shares of the company’s stock valued at $3,455,000 after acquiring an additional 46,150 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in Applied Digital during the fourth quarter valued at approximately $81,000. Plustick Management LLC grew its position in Applied Digital by 16.7% in the fourth quarter. Plustick Management LLC now owns 490,000 shares of the company’s stock worth $3,303,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Oasis Management Co Ltd. grew its position in Applied Digital by 23.6% during the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock valued at $33,216,000 after acquiring an additional 940,075 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Applied Digital Stock Down 4.6 %

Shares of Applied Digital stock traded down $0.29 on Friday, reaching $5.95. The stock had a trading volume of 8,821,682 shares, compared to its average volume of 4,171,165. The company has a 50 day moving average price of $4.19 and a 200 day moving average price of $4.73. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $11.07. The stock has a market capitalization of $816.40 million, a P/E ratio of -7.53 and a beta of 4.38.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Thursday, April 11th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.40). The firm had revenue of $43.35 million for the quarter, compared to analysts’ expectations of $50.36 million. Applied Digital had a negative net margin of 61.84% and a negative return on equity of 75.46%. As a group, equities research analysts forecast that Applied Digital Co. will post -1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on APLD. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a report on Friday, June 14th. B. Riley upped their price objective on Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday. Lake Street Capital decreased their price target on shares of Applied Digital from $19.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Roth Mkm lifted their price objective on Applied Digital from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Monday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Applied Digital in a report on Wednesday, June 12th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $8.40.

About Applied Digital

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.